Ethereum (ETH), at the time of penning down this analysis, was trading at 222.90 against the US Dollar. Ethereum is seen trading in a narrow trading range of $216 to $253 over the past 4 weeks now. Ethereum was drawing a visible uptrend on the 12-hourly chart after the market crash in March until the coin fell to trade in the given narrow range.
Ethereum Price Analysis
On the 12-hourly chart, Ethereum price is trading above 200 and 220 against the US Dollar and has marked a monthly low at $214 and high at $254. ETH coin has been maintaining a stupefying momentum and has not slid below $200 over the past four weeks now. Although there has been no steady blow of momentum, the coin is maintaining strict support at $200. Ethereum has breached the uptrend due to complex momentum in the ongoing month and with end nearing, June is likely to likely to end up with mild volatility.
The technical indicators laid on the 12-hourly chart of ETH/USD is holding a flat MACD curve and is slightly bearish due to intraday pullbacks and range-based trading. The RSI of the coin is lying at 38.28 and is inclined towards the extremity of the selling zone around 30.